30 03 2020
('British Honey', 'BHC' or the 'Company')
Strategic Collaboration to provide BHC with access to
Operational focus moving to market-ready brands and production of Alcohol Sanitiser;
Termination of JV to develop new product
British Honey, the premium British Honey and Infused Spirits brand, is pleased to provide the following corporate update.
The Company is pleased to announce a strategically important collaboration agreement with
The Agreement gives BHC access to List's extensive distribution network which covers more than 12 States across the US, a highly cost-effective way of market entry given the fragmented nature of the retail spirits market there. BHC has already identified the US, which has an estimated spirits market by value of over
BHC and List already have an established trading relationship, with BHC purchasing List's bourbon, American whiskey and rum which it bottles and sells in the
Both parties recognise the significant growth opportunities for premium craft distillers, with customer preferences increasingly favouring specialist artisan spirits over large global brands. List will use its expertise and experience of the US market to promote BHC's proprietary brands. BHC will use its master distiller to enhance List's imported Rum, American Whiskey and Bourbon to suit the
BHC and List have been working together to develop Alcohol Sanitiser and are now supplying medical services in both
As a result of its collaborative work with
Keepr's Honey Spiced Rum Bronze
Keepr's Classic London Dry Gin with British Honey Silver
These new products will be sold in the United States and UK.
Following the announcement on
Distil Joint Venture
More generally, the COVID-19 outbreak has caused the Company to review its operational focus given its impact on the distribution channels available to the Company. As a result, the board has determined that the Company's main focus will now be on market-ready or near market-ready alcoholic beverages and sanitiser. Accordingly, the Company has considered that the development of untested alcoholic products is not an operational priority at the present time and has therefore served notice on
Further International Awards
The Company is delighted to announce that, at the 2020 International Spirits Challenge, held earlier this month, the following product was awarded a medal:
Keepr's British Sloe and British Honey Gin
Michael Williams, BHC CEO, commented:
"As part of our planned international sales drive and expansion I am delighted to announce this strategically important Collaboration Agreement with List, further developing our trading relationship. It will enable us to extend our global reach and take advantage of significant growth opportunities in the US. The team at List are renowned distillers with excellent knowledge of the infused spirits market in their home country. Meanwhile, both Distilleries are co-operating in the manufacture of alcohol sanitiser. Daily conference calls between the respective management teams are taking place, sharing experiences and product modification, demonstrating the already close affiliation we enjoy.
Whilst we are disappointed to have to put on hold the development of new drinks products, our energies must now be devoted entirely to market-ready or near market-ready products. This includes the production and supply of alcohol sanitiser as part of our programme to support the NHS and other institutions in need of immediate supply. BHC have enlisted the help of Dr George Tranter of
I would also like to take this opportunity to thank all of our staff and, particularly, Jamie Baggott, our Master Distiller, and Thomas List for the fantastic results at the
Thomas List, President and owner of
We believe this Collaboration will allow us both to exponentially grow our respective businesses."
The Directors of the Company take responsibility for this announcement. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Tel: +44 (0)7976 559243
Cairn Financial Advisers
Jo Turner / Mark Rogers
Tel: +44 (0)20 7213 0885
Patrick Claridge / John Howes / Bob Pountney
Tel: +44 (0)20 3815 8880
Trade Press Enquiries
Jellybean Creative Solutions
Tel: +44 (0)1372 220 814
Notes to Editors
Launched in 2014, BHC is famed for its award-winning fruit and honey infused spirits, marketed under the Keepr's brand. Many of the Keepr's spirits are infused with BHC's proprietary British Honey from its fully traceable apiaries. The impressive spirits range with seasonal lines spans eight gins, four vodkas, two rums, two bourbons and a whiskey which is scheduled for release in 2022. All of BHC's spirits are distilled onsite in the company's specially customised Still under the watchful eye of international award-winning Master Distiller, Jamie Baggott.
This information is provided by RNS, the news service of the